Unconditional commitment, come what may
Friday 24th June 2022There have been big movements in bond yields overnight. NAB\u2019s Ken Crompton says there\u2019s been a reaction to weak PMI data from Europe and the US. There were promising signs, though, particularly in Europe were rising inventory numbers suggest demand is softening and prices are weakening, which could lessen the need for aggressive hikes by the ECB. Nothing, it seems, will stop the Fed though, with Jerome Powell renewing his unconditional commitment to reducing inflation.
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